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Provista sold to Nasdaq listed US firm

US deal: Barry Oliver and Stuart Little

A Scottish firm specialising in delivering networking and communications solutions has been acquired by PCM, a California-based business quoted on the Nasdaq Exchange.

Provista UK, which has recently reported record revenue of £7.7million, has grown over 11 years into a 33-employee firm.

The firm has its headquarters in Hamilton with satellite locations from Aberdeen to Birmingham.

In Scotland it handles public sector contracts for NHS Lanarkshire and South Lanarkshire Council, and private sector clients including AG Barr, Aggreko, Balfour Beatty, Digby Brown, Stewart Investors and Wood Mackenzie.

Stuart Little, director with Provista UK, said: “When PCM contacted us and shared their vision for the UK, it fit perfectly with our own ambitions to accelerate the growth of Provista in the UK.

“It is exciting to now be able to be part of PCM and take the business to the next level.”

No jobs will be lost following the takeover and the board will remain in place to oversee further recruitment throughout the UK, including more jobs in Scotland to support the expansion. 

Frank Khulusi, chairman and CEO of PCM, said: “The acquisition of Provista UK is yet another key milestone for our new UK segment that will further enhance our capabilities and strengthen our position as a value added solutions provider in the UK marketplace.

“I am pleased to welcome the team at Provista UK to the PCM family and look forward to continuing our growth and success in the UK market.”

Chinese deal for Pelikan Hardcopy

A China-backed business has acquired the business and assets of Aberdeenshire business Pelikan Hardcopy.

Michael Magnay and Rob Harding of Deloitte were appointed joint administrators of Pelikan Hardcopy Scotland on Friday and immediately sold the business and assets to Lothian Shelf, a company owned by Zhuoli Imaging Technology.

The company operates as a manufacturer and distributor of printing products and office consumables, including thermal transfer ribbon, magnetic ink character recognition and carbon films.

All 52 employees have transferred to the new company.

Mr Magnay said: “It’s fantastic to secure the existing 52 manufacturing jobs in Scotland, and we’re thankful to the staff for their ongoing support during what has been a challenging time for the company.  

“It’s also encouraging to see Chinese investment in Scottish manufacturing, which is an endorsement of the innovative products produced and the quality and dedication of the workforce.”

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